Malibu Boats (NASDAQ:MBUU) Stock Price Down 5.2% - What's Next?

Malibu Boats, Inc. (NASDAQ:MBUU - Get Free Report) was down 5.2% during trading on Friday . The company traded as low as $41.60 and last traded at $41.85. Approximately 64,620 shares were traded during trading, a decline of 74% from the average daily volume of 245,732 shares. The stock had previously closed at $44.14.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. DA Davidson lowered Malibu Boats from a "buy" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research report on Friday, November 1st. Robert W. Baird increased their price objective on shares of Malibu Boats from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. KeyCorp boosted their price objective on shares of Malibu Boats from $38.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Benchmark reiterated a "buy" rating and set a $44.00 target price on shares of Malibu Boats in a report on Friday, November 1st. Finally, StockNews.com upgraded Malibu Boats to a "sell" rating in a report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Malibu Boats has a consensus rating of "Hold" and a consensus target price of $44.57.

Malibu Boats Stock Down 4.4 %

The firm's 50 day simple moving average is $42.41 and its 200-day simple moving average is $38.42. The company has a current ratio of 1.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $832.38 million, a price-to-earnings ratio of -10.61 and a beta of 1.30.

Malibu Boats (NASDAQ:MBUU - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.16. Malibu Boats had a positive return on equity of 2.39% and a negative net margin of 10.90%. The business had revenue of $171.60 million for the quarter, compared to the consensus estimate of $165.33 million. During the same quarter in the previous year, the business earned $1.07 earnings per share. Malibu Boats's quarterly revenue was down 32.9% on a year-over-year basis. Equities analysts expect that Malibu Boats, Inc. will post 2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Malibu Boats

Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Malibu Boats in the second quarter valued at $139,000. Assenagon Asset Management S.A. bought a new position in Malibu Boats during the second quarter worth about $3,667,000. Bank of New York Mellon Corp increased its position in Malibu Boats by 8.8% during the second quarter. Bank of New York Mellon Corp now owns 103,596 shares of the company's stock worth $3,630,000 after buying an additional 8,422 shares during the last quarter. Legato Capital Management LLC raised its stake in Malibu Boats by 32.9% in the second quarter. Legato Capital Management LLC now owns 21,366 shares of the company's stock valued at $749,000 after buying an additional 5,291 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Malibu Boats by 4.7% in the second quarter. Principal Financial Group Inc. now owns 9,728 shares of the company's stock valued at $341,000 after buying an additional 435 shares during the period. Institutional investors and hedge funds own 91.35% of the company's stock.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.